Vetr Inc. Downgrades Delta Air Lines, Inc. (DAL) to Buy
Delta Air Lines, Inc. (NYSE:DAL) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday. They currently have a $55.68 price target on the transportation company’s stock. Vetr‘s target price indicates a potential upside of 11.70% from the company’s current price.
Several other equities analysts have also recently commented on DAL. Zacks Investment Research upgraded shares of Delta Air Lines from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Monday, February 6th. Deutsche Bank AG boosted their price target on shares of Delta Air Lines from $56.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. Citigroup Inc boosted their price target on shares of Delta Air Lines from $63.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 12th. Stifel Nicolaus restated a “buy” rating on shares of Delta Air Lines in a report on Friday, May 26th. Finally, Imperial Capital restated an “in-line” rating and set a $52.00 price target (up from $44.00) on shares of Delta Air Lines in a report on Friday, March 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.35.
Delta Air Lines (NYSE DAL) traded up 1.47% during midday trading on Thursday, hitting $49.85. The stock had a trading volume of 7,431,629 shares. The stock has a market cap of $36.29 billion, a PE ratio of 9.19 and a beta of 0.75. Delta Air Lines has a one year low of $32.60 and a one year high of $52.76. The firm has a 50 day moving average price of $47.76 and a 200 day moving average price of $48.48.
Delta Air Lines (NYSE:DAL) last posted its quarterly earnings data on Wednesday, April 12th. The transportation company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.04. Delta Air Lines had a net margin of 11.03% and a return on equity of 33.59%. The firm had revenue of $9.15 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period in the previous year, the company posted $1.32 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts expect that Delta Air Lines will post $5.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 19th will be issued a $0.2025 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Wednesday, May 17th. Delta Air Lines’s dividend payout ratio is presently 14.04%.
In related news, EVP Joanne D. Smith sold 4,475 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $49.32, for a total value of $220,707.00. Following the completion of the sale, the executive vice president now directly owns 85,398 shares in the company, valued at $4,211,829.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO W Gilbert West sold 26,131 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $50.47, for a total transaction of $1,318,831.57. Following the completion of the sale, the chief operating officer now owns 89,232 shares of the company’s stock, valued at $4,503,539.04. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 299,165 shares of company stock valued at $273,420 and sold 75,706 shares valued at $3,760,098. Corporate insiders own 0.75% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Delta Air Lines by 3.1% in the second quarter. Vanguard Group Inc. now owns 45,834,437 shares of the transportation company’s stock worth $1,669,748,000 after buying an additional 1,365,714 shares in the last quarter. BlackRock Inc. raised its position in Delta Air Lines by 2,951.4% in the first quarter. BlackRock Inc. now owns 45,260,856 shares of the transportation company’s stock worth $2,080,189,000 after buying an additional 43,777,555 shares in the last quarter. State Street Corp raised its position in Delta Air Lines by 3.4% in the fourth quarter. State Street Corp now owns 31,177,072 shares of the transportation company’s stock worth $1,533,596,000 after buying an additional 1,016,304 shares in the last quarter. Lansdowne Partners UK LLP raised its position in Delta Air Lines by 7.3% in the first quarter. Lansdowne Partners UK LLP now owns 28,103,972 shares of the transportation company’s stock worth $1,291,656,000 after buying an additional 1,918,036 shares in the last quarter. Finally, Primecap Management Co. CA raised its position in Delta Air Lines by 9.3% in the first quarter. Primecap Management Co. CA now owns 22,713,894 shares of the transportation company’s stock worth $1,043,931,000 after buying an additional 1,930,614 shares in the last quarter. 79.44% of the stock is owned by hedge funds and other institutional investors.
About Delta Air Lines
Delta Air Lines, Inc provides scheduled air transportation for passengers and cargo throughout the United States and across the world. The Company’s segments include Airline and Refinery. The Company’s route network is centered around a system of hub, international gateway and airports that the Company operates in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Minneapolis-St.
To view Vetr’s full report, visit Vetr’s official website.
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